User Account

All Pages

What amount should be reported as net income

Assignment Help Accounting Basics
Reference no: EM133173062

Question - On November 1, 2021, Agar-Agar Corporation had a division that met the criteria for discontinuance of a business component. For the period January 1 through November 1, 2021, the component had a revenue of P1,000,000 and expenses of P1,200,000. The assets of the component were sold on November 2, 2021 at a loss of P100,000. The income from continuing operations of Agar-Agar for 2021 was P5,000,000. The income tax rate is 25%. What amount should be reported as net income for 2021?

Reference no: EM133173062

Questions Cloud

What amount should be reported as net income : The income from continuing operations of Agar-Agar for 2021 was P5,000,000. The income tax rate is 25%. What amount should be reported as net income for 2021
Diamond model of leadership : Clawson presents the Diamond Model of Leadership stating "the diamond framework here is flexible enough to incorporate many of the features the main leadership
How the global manager will make a team culture : As a manager who is a promoter and user of the growing world culture, leverage the crisis to only save the job of every employee while creating a team culture o
Practice of revenue management : Revenue management often results in situations in which two different consumers pay vastly different prices for identical service experiences.
What amount should be reported as net income : The assets of the component were sold on November 2, 2021 at a loss of P100,000. What amount should be reported as net income
Define pariah minority and ultimate pariah : Article: "An Ultimate Pariah Jewish social Attitudes toward Jewish Lepers in medieval Western Europe" by Shoham-Steiner
Major characteristics of the modern workforce : Describe what you consider are the major characteristics of the modern workforce? How do your top three characteristics impact what strategies management use to
Selecting the best location for facility : What components (facilities, suppliers, stores, warehouses, etc.) comprise it's network? When this restaurant chain considers adding a new store
Heavily regulated consumer lending industries : Explain why the price obtained in a foreclosure sale is always less than what the property could bring in a normal, non-distressed sale.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd